Legg Mason Telecoms to expand remit to include Europe

Legg Mason Investors is broadening out the remit of its Telecoms fund to a European technology, media and telecoms trust. It is also permanently reducing the initial charge from 5% to 4.25%. The fund, to be called Legg Mason European TMT, will continue to be managed by Jeremy Knight, who took over management in October 2002, replacing Neil Massie. Knight joined Legg Mason in the previous year from First State Investments. Paul Boughton, managing director at Legg Mason, said the decision is based on the fact that there are strong growth opportunities for this sector, and the group ...